Business networking is a truly beneficial method to increase understanding, gain from the success of others, acquire potential and new clients and also inform others regarding your company and specific business matters. Business networking can absolutely benefit you and your business in so many ways. Try and harvest the low-hanging fruits and also start to enjoy yourself.
We at ThailandBusinessPlatform highly suggest business networking as a method to explore business, to approach potential customers and key influencers and to a develop a lasting business. Below are the 23 top advantages of actively and goal orientated business networking, given by entrepreneurs and Thai business executives;
1. Get connected
"It is not what you know, but WHO you know and to WHOM you have access". This quote is absolutely true in business. If you desire to become a successful business, you really should have an excellent resource for appropriate connections in your network that you may contact when you require their help or advice. Now, business networking offers a terrific source of new connections and contacts and actually opens the door to meet and speak with prominent business executives that you would not otherwise have the ability to conveniently find, meet and speak with. And another advantage is; it is not only who you are business networking with and directly connected with either as all those business executives will certainly have their own network contacts to whom you will get easy access to. So keep asking the correct questions to discover if the individuals you are networking and connected with, do know those executives that you wish to know!
2. Build and maintain relationships
The very best part regarding business networking events is that like-minded executives are all together in a casual setting. If your objective is to meet and get in touch with your sector, you definitely should attend business networking events as those events do not only enable to obtain to know business people much easier in comparison to official business meetings, however are likewise vital in both the preliminary connection and relationship building as well as maintaining the relationship| and keep connected. Business networking is simply very effective as in a short period of time you can meet many of your existing contacts, catch up and make further arrangements to discuss business initiatives and proposals in detail.
3. Raising your profile
Being present and visible as well as getting seen is a huge advantage of business networking. Ensure you frequently participate in business networking events as it will help to get your name and face known to others. Build your credibility to get your track record known and get known as well-informed, experienced, trustworthy as well as a helpful business person by providing valuable information and suggestions to others. By doing this, you are most likely to obtain better contacts and even more introductions, business leads and also recommendations.
4. Quality referrals
Getting known, being liked and appreciated as a person, a solid business reputation and an added value in product and service performance. This will be your marketing concept for you want to emphasize at business networking events and it will absolutely lead to referrals. The terrific news is that such business recommendations made by networking are usually premium quality and the majority of those are also pre-qualified especially for your business. It requires adequate follow-up and appreciation, and such referrals are relatively fast and easy to transform into new clients. Proper business networking for referrals can give you a higher success rate as it is in general much better leads compared to various other types of marketing.
5. Enhance business sales
In addition to referrals, you also have to optimize sales. Probably this is the most evident advantage and the factor most business owners and executives determine to join and sign up for business networking events. Consciously seeking new business opportunities and contacts to achieve more and also better sales margins. Boosting business sales from networking is a significant advantage, however, there are lots of other reasons as well.
6. Business opportunities research
With a determined networking group of business owners and executives comes a wealth of opportunities to create new business! There are constantly great deals of opportunities that originate from networking and actually, this is where the advantages of business networking are substantial! Opportunities for leads, partnerships, promoting and advertising, advantageous offers or cost savings options ... the opportunities within networking are truly unlimited. You have to be open to it and share and explore creatively with others and make inquiries. But be careful; only select opportunities that fit you and do not go jumping into every opportunity that comes along. The possibilities that you obtain involved in must align with your business vision, potential and goals, otherwise, it will not be successful and only a waste of time.
7. Free advice and suggestions
Having business owners and business executives to speak with likewise offers the possibility to obtain advice from them on all kind of issues related to your company and business and perhaps even on your personal life, spending and also getting that crucial work-life balance. Business networking is a fantastic method to make use of guidance and knowledge resources that you would not otherwise have the ability to acquire. Simply ensure you are obtaining solid proof advice from the best business contacts; a person that in fact absolute knows about, who exactly understands your needs. Avoid those who just providing you with their point of view on various issues and those who have none or little experience.
8. Understanding market trends and opportunities
Professional networking is an excellent way to expand your thinking as well as to discover new ideas to locate prospective clients and understand various target markets that you had not considered before or you are targeting. Other business executives you may meet at business networking events typically could assist to determine new market opportunities you might not be aware of or you have just a little knowledge about. Also, you may meet worth-knowing businesses which have synergies with your activities which can be very practical and enlightening and a source of information. At events, there will be lots of people of your or attached sectors, all with their own visions and experience, which will be familiar with the latest developments. This offers a not to be missed chance to hear exactly what trends are occurring as well as their actual development and focus of their business and of the competition is.
9. Getting new ideas and discover innovations
Meeting professionals of various other businesses and discussing business is a great method to learn new ways to do business. Every business sector and company is different and there big variations business individuals will have their very own concepts. Discovering just how the executive and their business in other sectors, in other markets or with different products and services get their business helps to create new original ideas and possibly adapt other businesses developments end concepts to your very own organisation. Often at business networking events, there is a well-known public speaker. Hearing their concepts and suggestions of those who are actually successful is a remarkable opportunity to learn and get aware of innovations and other concepts. Professional networking can be a learning resource and opportunity to develop and innovate your business.
10. Opportunities for collaboration
Working alone can be fantastic, however, teaming up with a colleague of companies for synergy or larger sized projects can be lucrative and also be an amazing change of pace. Cooperation with business partners will also increase your perspectives and will put your company name differently on the map and will lead to new opportunities. Develop a solid network, courageous to be open to all these new, interesting opportunities to collaborate.
11. Understanding competition and needs
In the various markets, there is still a lot of variation possible within the distinct niches. There are sufficient options available to specialize so that every company has something exceptional and distinctive to offer. Knowing what the competition is doing and contacts with other members and also competitors of a network make it much easier for everyone to really find their own specialization. Moreover, it can be tested whether this also meets the expectations and needs of the customers. All this means that you find the perfect customers for your unique niche, but also that you indirectly will help others find their perfect customers! If everyone can be successful in their own niche, including your company, that is an excellent goal to work towards. The best possible result could be where everyone wins.
12. Selecting new suppliers
Business networking is a terrific method to discover new and the most effective business suppliers and to develop a truly value-for-money partnership. Whatever kind of business supplier you are seeking, whether it is a sub-contractor, material supplier, or a professional as an accountant, a consultant or recruiter, you will certainly stumble upon them all in one of the networking events. Building a relationship starting at a networking event frequently results in possibilities for 2-way business.
13. Getting mentors and advisors
Within a network of business individuals there will be all kind of people with different background and experience, different viewpoints but certainly also within different phases of in developing their business. Meeting a person who has gone through the same stages of business development some time ago and does have the experience and could be a very useful knowledge source. They recognize the tough decisions that have to be made, as well as the ways to effectively navigate the twists and turns of developing a business. Excellent advisors who will provide guidance on the basis of mutual appreciation.
14. Get in touch with key influencers
Not every day you will have the possibility to interact and get connected with key influencers and business leaders in your area and maybe even in your industry sector. Normally they are difficult to reach or you would not be able or willing to approach them directly, however business networking events provide the ideal setting for some small talk with these top-level individuals and possibly a first meeting can lead to more
15. Get inspiration
Business owners share a typical vibe of energy. Blending with other people who do rely upon own strength, their very own expertise and resources to survive and to become successful and also who are individuals that need to think outside the box to beat their competitors is constantly an inspiration. Meeting like-minded business people who are in or have had similar questions and complications are willing to share their remedies and will be wonderful motivation.
16. Raised self-confidence
By on a regular basis attending business networking events, and also forcing yourself to introduce yourself and talk with other unknown business network visitors, you will certainly obtain raised self-confidence the more you will practise. This is truly essential as business owners and executives, due to the fact that your business continuity and growth is extremely dependant on your network and client base. Business networking is good practice for individuals that typically are not so confident and it really forces them to develop and learn ways to make contacts, to converse and exchange information as well as build long-lasting connections with other business individuals they did not know before. Most of us are definitely not so positive in the beginning when we start business networking, as a matter of fact networking most of us are totally scared! However, as you do it more often, much more confident you get and all become less complicated and networking will bring significant results.
17. Communication improving
Venturing out there and also presenting yourself as well as your company to unfamiliar people quickly educates you the most effective method to get your message across. Initially, it can be really difficult however practice and experience will fast made it second nature. I have actually seen some individuals change from timid newbies to positive crowd-players as their experience did develop.
18. Get motivated and learn
Besides a lot of network events will get you clear new ideas, you will often attend and leave with inspiration and boost motivation. If you remain in a business networking event with prominent business executives and colleagues, it will be encouraging and you certainly will gain motivation to improve business. If you are not really thinking about developing business connections, join a business networking event to get encouraged by others.
19. Positive impact of other networkers
Entrepreneurs and top-level business executives, the individuals you will meet and talk to at business networking events will influence you personally but also as a businessman. That is why it is important to surround yourself with positive as well as uplifting individuals as this will help you to expand and succeed in business. Networking events are fantastic to meet those people as these (mostly) entrepreneurs and top-level business executives are often excellent in networkers with an extraordinarily positive attitude and willpower.
20. Fulfilment by offering help
It truly takes great pleasure in helping and assisting others, and at the same time, networking is a superb manner in which makes it very easy too. Business networking events contain many local business owners and business executives who have issues or some troubles in their company and market that have to be solved and it is a fantastic satisfaction to help someone especially if you are able to fix a problem and can being part of creating amazing result by sharing your knowledge.
21. Recruiting staff or find new job opportunity
If you are in recruiting, have a role in recruiting employees or open to job opportunities, networking events are a place to go and meet potential candidates and recruiters/employers. Normally some of the networking attendees do have an interest in a career and company switch and aspire to understand and receive additional information about job opportunities. You are able to find and evaluate the possibilities and as you will be able to acquire some informal information and understanding of a job or a candidate, and are able to decide whether to proceed with a formal meeting.
Spending quality time, just in the office can often get a little bit excessive, so why not go to participate in a business networking event to break up the day by meeting interesting individuals? Business networking events offer an excellent setting for both socializing along with boosting business and increasing contacts will for sure also lead to a boost of your career, so from that point of view it is win-win.
23. Lasting friendship
Finally, and this one is much more personally relevant instead of business related, however, is a huge advantage none-the-less. Lots of good friendships develop as a result of networking due to the fact that primarily you are all like-minded business individuals that intend to expand your businesses, as well as you want to meet and assist each other consistently, so normally solid friendships have the tendency to develop. For sure some of my best friendships have actually been begun with meeting at a business networking event. Although we concentrate on business matters, networking can additionally bring you remarkable new close friends. A great starting point for friendship as you share your suggestions, goodwill and interest for business with similar and like-minded people. Solid friendships incorporated with strong solid business partnerships are extremely effective for building a powerful network.